Commodities Buzz: US natural gas inventories down 6.3% on year

Working gas storage in the contiguous United States was 2,898 billion cubic feet or BCF in the week ending June 20, a net increase of 96 billion cubic feet from the previous week, the US Energy Information Administration (EIA) said Thursday in a report. The total working gas storage declined by 6.3 percent from this time last year, but up by 6.6 percent from the five-year average. Natural gas futures slumped to six week low yesterday following this update but rose 2% to $3.60 per mmbtu today.

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